Mueller Industries, Inc. (NYSE:MLI) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its stake in shares of Mueller Industries, Inc. (NYSE:MLI) by 194.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,883,088 shares of the industrial products company’s stock after acquiring an additional 1,903,745 shares during the quarter. Pacer Advisors Inc. owned 2.54% of Mueller Industries worth $135,938,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Trust Advisors LP lifted its stake in Mueller Industries by 284.1% during the first quarter. First Trust Advisors LP now owns 2,701,964 shares of the industrial products company’s stock valued at $198,540,000 after buying an additional 1,998,534 shares in the last quarter. Norges Bank acquired a new stake in shares of Mueller Industries during the fourth quarter worth approximately $39,197,000. Envestnet Asset Management Inc. boosted its stake in shares of Mueller Industries by 1,084.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 671,768 shares of the industrial products company’s stock valued at $4,010,000 after buying an additional 615,064 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new position in Mueller Industries in the 1st quarter worth about $29,681,000. Finally, Gates Capital Management Inc. increased its holdings in Mueller Industries by 53.4% in the third quarter. Gates Capital Management Inc. now owns 1,196,744 shares of the industrial products company’s stock worth $89,947,000 after buying an additional 416,700 shares during the last quarter. 94.50% of the stock is owned by hedge funds and other institutional investors.

Mueller Industries Trading Down 1.5 %

Shares of MLI stock opened at $53.19 on Tuesday. The company has a market capitalization of $6.04 billion, a P/E ratio of 10.01 and a beta of 1.08. Mueller Industries, Inc. has a 12 month low of $32.94 and a 12 month high of $54.39. The stock has a 50 day moving average of $49.86 and a two-hundred day moving average of $44.30.

Mueller Industries (NYSE:MLI) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.05 earnings per share for the quarter. Mueller Industries had a net margin of 17.63% and a return on equity of 27.59%. The firm had revenue of $732.38 million for the quarter.

Mueller Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Mueller Industries’s previous quarterly dividend of $0.15. Mueller Industries’s dividend payout ratio is 15.05%.

Insider Activity

In related news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the completion of the sale, the chief financial officer now owns 370,840 shares in the company, valued at approximately $18,263,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Jeffrey Andrew Martin sold 47,280 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.25, for a total transaction of $2,328,540.00. Following the sale, the chief financial officer now owns 370,840 shares in the company, valued at $18,263,870. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hansen sold 5,000 shares of Mueller Industries stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $49.33, for a total value of $246,650.00. Following the completion of the transaction, the director now directly owns 18,000 shares of the company’s stock, valued at $887,940. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Northcoast Research restated a “neutral” rating on shares of Mueller Industries in a report on Friday, January 19th. StockNews.com lowered shares of Mueller Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd.

Mueller Industries Company Profile

Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.